Everything As A Service: An In-Depth Analysis of the Market and its Transformative Impact on Business Models Worldwide

The global everything as a service market size is anticipated to reach USD 1,208.5 billion by 2030, registering a CAGR of 22.3% during the forecast period, according to a new study by Grand View Research, Inc. Industry players are poised to emphasize XaaS platforms for increased scalability, security and cost savings. Organizations can reduce costs through the purchase of services on a subscription basis. Furthermore, the rising penetration of cloud computing and the high number of offerings provided by the cloud will bode well for the industry's growth. With a host of companies adopting the XaaS model by way of cloud-based monitoring, industry participants will continue to invest in the business vertical.

Everything As A Service Market Report Highlights

• In terms of type, the Infrastructure-as-a-Service (IaaS) segment could account for a sizable share of the global market due to the optimistic demand from the governments along with small and mid-sized businesses
• For verticals, the BFSI sector will grow on the heels of notable trends in the cloud computing
• North America will propel the Everything as a Service (XaaS) market value with surging demand for smart devices and BYOD trends. Besides, increased adoption of the security as a service (SECaaS) platform will also bode well for the regional outlook
• Leading companies are slated to foster organic and inorganic growth strategies 

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COVID-19 put the spotlight on subscription models as the outbreak brought a paradigm shift through digital transformation. For instance, retailers and other enterprises went online or hybrid, exhibiting an increased demand for the XaaS models. Prominently, XaaS became sought-after to streamline remote-based operations. Moreover, it is worth noting that the prevailing geopolitical situation, including Russia’s invasion of Ukraine and the global supply chain crisis, has had a toll on the global market. However, technological advancements could foster agility, enabling key players to offer enhanced customer experience.

Software as a Service (SaaS) has witnessed significant traction following the penetration of cloud-based apps across developing and developed countries. Furthermore, the increasing footprint of the pay-as-you-go or subscription model has boded well for the stakeholders fostering XaaS market share. End-users are poised to explore opportunities in XaaS to mobilize the workforce seamlessly and access app data from any location. With the pricing model being scalable and flexible, it plays a pivotal role in reducing the capital expenditure needed to establish licenses and infrastructure for the software.

The industry trend also alludes to artificial intelligence (AI), machine learning, and vertical SaaS waves that could create massive value. Many sectors, including healthcare, education, logistics, agriculture, and financial services, have received an uptick from AI-powered solutions. For instance, vertical SaaS has set the trend to boost data governance, customer data, and intelligence plus meet industry requirements. It is worth mentioning that vertical SaaS complements logistics analytics, retail analytics, and healthcare analytics.

From the regional perspective, Europe emerging as a favorable investment hub comes on the back of bullish initiatives from the leading companies. For instance, in March 2022, Amazon contemplated infusing around USD 2.36 billion into the U.K. infrastructure during the next two years. Meanwhile, March 2021 witnessed Hop in raise USD 400.0 million in Series C funding. The company suggested Europe has immense SaaS talent and claimed it had bolstered its portfolio to foster live video collaboration and remote community. Moreover, XaaS models have helped companies across the U.K., France, Germany, and Italy to streamline IT operations and prioritize innovations.

By Product Type Analysis

The SaaS segment is expected to grow due to the increasing adoption of SaaS platforms by the IT and telecommunication industries. Furthermore, with cloud computing gaining ground, industry participants expect Infrastructure-as-a-Service (IaaS) to provide lucrative opportunities during the next few years. IaaS providers rely on edge solutions and cloud to keep up with the demand for portability and data sovereignty requirements. Stakeholders anticipate the Disaster recovery as a service (DRaaS) segment to witness a robust growth, attributed to an increased need for disaster recovery planning in the wake of pervasive cyberattacks, power outages, and natural disasters. Disaster recovery models have gained significant traction following the popularity of managed DRaaS and self-service DRaaS.

By Vertical Analysis

The BFSI sector is poised to boost the adoption of XaaS against the backdrop of the prominent trend for cloud computing. Cloud-based banking, including Paas and SaaS architectures, has received impetus across developing and developed countries. The insurance sector has also exhibited traction for anything as a service to leverage advances in IoT, machine learning, and big data. With a surge in efficiency in payouts and claims through automation, insurers could modernize legacy technology and foster the adoption of cloud-based approaches. The healthcare sector has emerged as a viable proposition following the penetration of patient-centric and data-driven medical treatment. Specifically, the rising footfall of the IoT has leveraged health monitoring, online consultation, and doorstep medical services. 

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By Offering Type Analysis

Stakeholders expect XaaS solutions to remain dominant with the growing popularity of IoT Intelligent Apps, customer experience (CX), and enterprise performance management (EPM). Moreover, the trend for pay-per-use, pay-as-you-go, and pay-per-view solutions will also bode well for the industry growth. XaaS solutions are also sought to help end-users access network resources and advanced services. These products and services will help companies embrace cutting-edge technologies. With reduced CAPEX, everything as a service will remain instrumental in boosting business operations.

Market Latest Trends and Developments

The competitive scenario suggests leading companies could foster their penetration with an emphasis on mergers & acquisitions, product launches, technological advancements, R&D activities, and geographical expansion. For instance, in January 2021, Microsoft Corporation joined hands with Tanla, a software company based in Hyderabad, to roll out a Block chain-enabled communications platform-as-a-service (CPaaS)-Wisely-built on Azure Cloud. Microsoft Corporation and Tanla will reportedly be the co-sell partners for the platform that is believed to provide trusted and secure communication experiences. Leading companies are poised to focus on solidifying their offerings to foster their penetration across untapped areas.

List of major companies in the Everything As A Service Market

• Amazon Web Services
• Alibaba Group
• Avaya
• Cisco Systems Inc
• Dell
• Google
• IBM
• Microsoft
• Oracle Corporation
• Rack space
• VMware

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Segmented the global everything as a service market based on offering, type, organization size, vertical, and regions:

Table of Contents

Fig. 1 Research Process

Fig. 2 Market Formulation

Fig. 3 Market Segmentation and Scope

Fig. 4 Everything as a Service (XaaS) Market, 2017 - 2030

Fig. 5 Key Opportunities Analysis

Fig. 6 Everything as a Service (XaaS) - Value Chain Analysis

Fig. 7 Everything as a Service (XaaS) Market Dynamics

Fig. 8 Industry Analysis - Porter’s Five Forces Analysis

Fig. 9 Everything as a Service (XaaS) Market - Pest Analysis

Fig. 10 Everything as a Service (XaaS) Market Share by Offering, 2021 & 2030

Fig. 11 Everything as a Service (XaaS) Market Share by Type, 2021 & 2030

Fig. 12 Everything as a Service (XaaS) Market Share by Organization size, 2021 & 2030

Fig. 13 Everything as a Service (XaaS) Market Share by Vertical, 2021 & 2030

Fig. 14 Everything as a Service (XaaS) MarketShare by Region, 2021 & 2030

Fig. 15 North America Marketplace: Key Takeaways

Fig. 16 Europe Marketplace: Key Takeaways

Fig. 17 Asia Pacific Marketplace: Key Takeaways

Fig. 18 South America Marketplace: Key Takeaways

Fig. 19 MEA Marketplace: Key Takeaways